12-unit townhome community in Vincennes – $1,185,000. Twelve two-story 2 bed / 2 bath townhomes, each with living room, kitchen, laundry room, private entry, and its own street address (501–523 Eric Ave). Brick and vinyl exteriors, metal roofs, off-street parking. Separately metered gas and electric; tenants pay all utilities including water and sewer; city trash pickup. Fully leased with long-term tenants. Gross rent $10,875/month ($130,500/year); six units already at $1,000 with clear upside on the other six. Approx. 7.3% cap on actual 2025-pay-2026 taxes ($14,080) and insurance. Minutes from Vincennes University and Good Samaritan Hospital. Financial summary available to qualified buyers. Do not disturb tenants.
Active
$1,185,000
501 Eric Ave, Vincennes, IN 47591
24beds
11,784sqft
Multi Family
Built in 1983
-- sqft lot
$107,100 Zestimate®
$--/sqft
$-- HOA
What's special
Off-street parkingBrick and vinyl exteriorsMetal roofsPrivate entryLaundry room
- 2 days
- 147
- 14
Zillow last checked:
Listing updated:
Listed by:
Delmar W Wagler Office:812-636-5600,
Integrity Realty Group LLC
Source: IRMLS,MLS#: 202646359
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 24
- Bathrooms: 24
- Full bathrooms: 24
Heating
- Natural Gas, Forced Air
Cooling
- Central Air
Features
- Flooring: Concrete, Laminate
- Has basement: No
Interior area
- Total structure area: 11,784
- Total interior livable area: 11,784 sqft
- Finished area above ground: 11,784
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 20
- Parking features: Off Street Parking
Features
- Levels: Two
- Stories: 2
Lot
- Size: 0.41 Acres
- Features: Level
Details
- Additional structures: None
- Additional parcels included: 4212-28-210-010.000-022
- Parcel number: 421228210009.000022
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick, Metal Siding, Vinyl Siding
- Foundation: Slab
Condition
- New construction: No
- Year built: 1983
Utilities & green energy
- Sewer: City
- Water: City
Community & HOA
Community
- Subdivision: None
Location
- Region: Vincennes
Financial & listing details
- Tax assessed value: $58,600
- Annual tax amount: $14,080
- Date on market: 11/11/2026
- Inclusions: Building, Land, Lease
- Lease term: Negotiable
- Total actual rent: 130500
- Tenant pays: Cooling, Electricity, Heating, Sewer, Trash Collection, Water
Estimated market value
$107,100
$89,000 - $125,000
$975/mo
Price history
| Date | Event | Price |
|---|---|---|
| 11/11/2026 | Listed for sale | $1,185,000+77.1% |
Source:  IRMLS #202646359 Report a problem | ||
| 4/15/2022 | Pending sale | $669,000 |
Source: IRMLS #202212811 Report a problem | ||
| 4/13/2022 | Listed for sale | $669,000 |
Source: IRMLS #202212811 Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 2/4/2020 | Listing removed | $700 |
Source: Owner Report a problem | ||
| 1/27/2020 | Listed for rent | $700 |
Source: Owner Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,150 +12.8% | $58,600 +3.9% |
| 2024 | $1,020 +5.4% | $56,400 +12.8% |
| 2023 | $967 +7.2% | $50,000 +5.9% |
| 2022 | $902 +0.2% | $47,200 +7.3% |
| 2021 | $901 -3.8% | $44,000 |
| 2020 | $937 -0.8% | $44,000 -3.7% |
| 2019 | $945 +0.4% | $45,700 +0.7% |
| 2018 | $941 0% | $45,400 +0.9% |
| 2017 | $941 +5.2% | $45,000 |
| 2016 | $894 +0.8% | $45,000 +3.7% |
| 2014 | $887 -0.7% | $43,400 +0.2% |
| 2013 | $893 +1.3% | $43,300 -1.8% |
| 2012 | $882 +14.8% | $44,100 +14.8% |
| 2011 | $768 -8.1% | $38,400 -8.1% |
| 2010 | $836 +14.2% | $41,800 +14.2% |
| 2009 | $732 -42.7% | $36,600 -8.3% |
| 2006 | $1,277 | $39,900 -14.6% |
| 2005 | -- | $46,700 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 47591
Nearby schools
Schools provided by the listing agent
- Elementary: Vigo
- Middle: Clark
- High: Lincoln
- District: Vincennes Community School Corp.
Source: IRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
